Pune, March 06, 2023 (GLOBE NEWSWIRE) -- As per the report by SNS Insider, the global was valued at USD 4.42 billion in 2022 and is projected to reach USD 9.90 billion by 2030, with a stable CAGR of 10.6% during the forecast period from 2023 to 2030.
The global antimicrobial coatings market is experiencing significant growth, driven by several factors. One of the primary drivers is the rising awareness among consumers regarding safety and hygiene. Furthermore, governments around the world are implementing strict regulations to ensure public safety and reduce the spread of infections. With the increasing prevalence of health diseases and infections, the demand for antimicrobial coatings in the healthcare sector is increasing rapidly.
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Major Trends Observed for Antimicrobial Coatings Market
- The silver-based antimicrobial coatings sub-segment is one of the fastest-growing segments in the market for antimicrobial coatings. This sub-segment holds a significant number of shares in the market due to its various advantages, such as being less toxic, having long-lasting effects, and being highly durable.
- The Hospitals and Clinics segment holds a significant share in the market for air purification and filtration systems. The increasing concern about hospital-acquired infections and their impact on human health is driving the growth of this segment.
- With an emphasis on providing quality healthcare, the North American region has been investing heavily in the development of advanced healthcare systems. This has resulted in a significant increase in the demand for air purification and filtration systems in healthcare facilities, thereby driving the growth of the market.
Antimicrobial Coatings Market Scope
| Report Attributes | Details |
| Market Size in 2022 | US$ 4.42 Billion |
| Market Size by 2030 | US$ 9.90 Billion |
| CAGR | CAGR of 10.6% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Silver, Copper, Titanium Dioxide, Others (QACs, Zinc-based, Polymer, Organic)) • By Application (Medical & Healthcare, Food & Beverage, Building & Construction, HVAC System, Protective Clothing, Transportation, Others) |
| Drivers | • The medical and healthcare industry will drive market expansion both during and after the COVID-19 pandemic. |
| Restraints | • High product costs and a need for highly skilled employees |
Impact of recession on Antimicrobial Coatings Market
The impact of a recession on the market can be significant, as it can cause a decrease in demand for non-essential goods and services, including antimicrobial coatings. However, it is important to note that the market may not be impacted as severely as some other industries during a recession. This is because antimicrobial coatings are often considered a necessary component of healthcare and medical products, such as medical equipment, and hospitals and clinics will continue to require these coatings to prevent the spread of infections.
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Key Developments Related to Antimicrobial Coatings Market
- BioInteractions, a UK-based biomaterial technology company, has launched its expanded Product Pathway Partnership service at the MD&M West conference. The service includes a range of offerings, including bespoke coatings, optimized application and tooling, testing, regulatory support, and commercial production.
- Univar Solutions, a leading global chemical and ingredient distributor, announced that it has completed the acquisition of ChemSol Group, a specialty ingredients and chemicals distributor based in Central America. The acquisition is expected to further expand Univar Solutions' geographic reach and enhance its portfolio of specialty ingredients and chemicals.
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